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Exploring the Shifts in Flexible Workspaces from 2023 to 2024 with Hub Australia’s CEO Brad Krauskopf

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As I reflect on pivotal insights from 2023 and look to the evolving landscape of flexible workspaces in 2024, I am seeing signs of recovery and thriving flexible workspaces.

The days of “gimmicky” workplaces are numbered

In 2023, we saw discernible shift, signaling the end of an era for “gimmicky” workplaces. Quality workspaces emerged as the new imperative, with a seismic business transformation underway. The demand for sophisticated, luxury, and high-quality amenities in flexible workspaces gained momentum, mirroring the considerations individuals make when choosing hotels – encompassing brand, location, and overall experience. Notably, this flight-to-quality was driven by the quest to attract and retain talent, making hospitality and customer service pivotal components.

Commercial landlords are becoming our biggest customers

Another noteworthy trend is the transformation of commercial landlords into significant customers. The line between traditional and flexible office spaces blurred as companies with standalone office headquarters increasingly sought high-quality third spaces within their buildings. This shift, particularly evident in premium and A-Grade commercial offices, brought collaboration spaces, serviced meeting rooms, and privacy to the forefront. Commercial landlords adapted by incorporating hospitality and flexibility into their strategic planning.

Companies are seeking ethical spaces more than ever

A significant development in 2023 was the heightened emphasis on ethical workspaces. Companies, in their pursuit of doing better, sought workspaces aligned with broader ESG targets. Sustainability, carbon neutrality, and community partnerships for social impact businesses became integral considerations. B-Corp certification gained prominence, with Hub Australia’s own credentials as a B-Corp being a key driver for increased member inquiries.

We’ll see homegrown Aussie flexible workspace thrive

Looking ahead to 2024, the Australian flexible workspace industry is positioned to thrive. While global giants grapple with challenges, a growing preference for established homegrown operators with local market expertise is evident. The appeal of keeping workplaces in Australian-owned and operated spaces is on the rise, positioning local operators to meet the escalating demand.

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A view of a Hub Australia coworking space.

Flex workspaces will need to offer more than ever before

In response to the evolving landscape, flexible workspace operators in 2024 will need to offer more than ever before. There are two major shifts that will continue into 2024 – a continued flight-to-quality and a concurrent flight-to-experience will shape the industry.

Operators must elevate amenities and hospitality to unprecedented levels. Anticipate the rollout of never-before-seen features, including art collections, enticing event spaces, music rooms, and wellness areas. Hub Australia’s flagship Hub Martin Place site, drawing inspiration from global design leaders, is set to lead the charge with cutting-edge amenities.

Furthermore, major enterprises are expected to grant their workers even greater flexibility in 2024. Beyond the hybrid work model, third spaces like flexible workspaces and community hubs will play a crucial role. Employee benefits may include memberships to city-fringe flexible workspaces, allowing individuals to work across multiple locations. The trend towards liberated work is set to diversify, with businesses open to employees working across multiple cities if needed, especially if flex memberships ensure access to an office space.

Whilst we continue to navigate the changing landscape this year, the flexible workspace industry stands at the forefront of transformative workplace trends. The lessons learned in 2023 have led to a clear evolution, marking the end of superficial workspaces, and pushing towards an era where quality and experience remain leading key factors in decision making. The Australian flexible workspace industry is not just poised to thrive, it is ready to redefine the office space.

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About Author

Brad Krauskopf is the founder and CEO of Hub Australia, Australia’s largest privately held coworking space provider, providing premium spaces to growing businesses across the country. Hub Australia has seven locations across Melbourne, Sydney, Brisbane and Adelaide, supporting over 3000 members and businesses.

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